The Sun. — London, England, 1826-02-24 00:00:00

ti+ ~;~ -,~,:j > . • M 31 " v • * NnY ."4 • 14 . . ,ra 0 11* ayfi,CS 1 1 0 f 44 • 1-. ~; V '* r _ - ill‘e '6 7 - 1 4- 1,6 NUMBER 10,439 FRIDAY EVENING, FEBRUARY 24, 1826 PI CE SgVENPENCE. Marlborough; by Lord Virst. RUSSELL, the borough•Of Godmanchester ; and from the borough of TtiV 4 t.lldi. IMPORTATION OF FRENCH' G LOVES. Lord DEER H URST had to present to the House a Petition from the Glove Manufacturers of Worcester, against the intro- - ductiOn of French gloves in July next, In doing which, he must beg to observe; that he had the honour to represent, generally speaking, a very. loyal city, and one,that would be Hs little in clined as any he knew, to make frivolous complaints; or throw idle obstacles In the way of his Majesty's Ali/sisters t but now he would ask, was it possible for those respectable manufac turers to encounter the haggard, hut honest countenances of those, perhaps long employed by them—soliciting with anxiety the simple boon of work; that they may be enabled to feed thentselves and their families by hOnest industry ? flow could they turn a deaf ear to ,such entreaties, and refuse to exercise their humble prerogative of petitioning his Al.tjestv's Ministers to desist from earring h measure into effect so replete with evil consequences? Was there a hope that a reciprocity of feeling existed with •France,•tbere might he sonic consolation—but that he (land Deerhurst) could venture to say. would not be the date. Forty thousand perions were employed in this business, and he did venture to implore in their behalf, that the Go vernment would alter their decision on thie Measure altogether; blit if that was impossible,' that at all cynts, it aright be sus- pentied, for this was in his opittion„ wrtii the late mercantile aistresees, at ail events a yew dangeroiblrimoment to carry it into execution. Colonel awns presented a similar Petition from the opera tive Glove Manufacturer's of the county of Worcester. Mr. KEITH* DOUGLAS moved' for a new Writ for the elec tion of a Member for the Baronet of East Loo, in the room of Watson Taylor, Esq. who had accepttet the Chdtern Hundreds. TOBACCO DUTIES. Mr. Hite presented a Petition from the Importers and Manufacturers of Tobacco, of the Town of Belfast, praying - for a reduction of duty on that article. The lion. 111mber made several observations in support of the object of the petition. Mr. HAIIT DAVIS and Sir Jost); NEWPOUT severally spoke to the like effect.—Ordered to be laid on the table and printe'd. Mr. HART DAVIS presented a similar Petition front the City of Bristol. Nonek; To ARTISTS. Al4l, WORKS of PAINTING SCULP . TURK, and AguirrEcTUßE, intended for.the suili4 EXHIBITION : at the ROYAL ACADEMY, must be seat in on MONDAY, the 3d, or by Six o'Clock on TUFA. DAY, the 4th of April, alter which tune none can possibly be N:ceived. Thrpartienlars necessary to be attended to may be ob. tairied by application at the Royal Academy. ENRY HOWARD, R.A. Sec. PA RLI A ME NT. HOUSE OF LORDS, F EB. SLAVERY. The Earl of SHAVTESBURY presented a petition from Burj St. Edmunds, for the Abolition of Negro Slavery.—Laid on the table. • SIX of X-20,000, WEDNESDAY NEXT. QWIFT and .CO. Sold and Shared .TWO t.. 3" rnizEs. of THIIVIT 'THOUSAND POUNDS wit of the Font', drawn:the 6th of December bot t alio a }'rive of X 70.000, dfawn the 18th of tut October; and another Prize of ,(4.0,000, nod 32 other Capitals. in the Drawings blithe-. diately lireeeedinc i•thaking rite following List of great Capi tals sold at their bakes within the hitt few carnal's, viz. '7,349 .£40,000 1,062 . ClO,OOO • • • 10,976 The Scheme to lie nil tirawo .Iqt MARCH (being Or 1.1,t b ut Two), cOnla;ns SIX PHU:ES of r. eO,OOO, 614iite4 other ettpittkls, ruill for every Ticket 1:5 of the least. The Tielselg and Shares are selling at SWIFT nod Co.'s Oftices; )1, Poultry ; 1 , Strand, tittioilliq•Novttlo,otierhttifllloose ; anti SI, Aldgate tligh.ntreei. , This Day was published, In Three Volumes. price 31s. tkl. rrITE HISTORY of ENGLAND, from the earliest Times to the Death of George IL By Dr. GOLDSMITH. Continued to the Death of George 111. by the Rev. R. LY. NA 31, A.M. late Classical 3lastet of Christ's Hospital. Vol. 111. by Mr. Lynam, may be had separate, price is. printed by J. F. Pave, St. John's-square ; for Cowie, Low, and Co. P.:mitre • Chalmers and Collins, Glasgow ; H. Moz. Ivy, Derby; areJ. Cumming, Dublin. This Day was published, In Onc *cry thick Volume, medium ilvo. three column's, Price $68., ANEW GRUM and ENGLIII LEXI CON; principally on the Plan of the Greek and Ger. man Lexicon of SCHNEIDER •. Alphabetically arranged`; llstinguishing such as are Poetical, of Dialectic variety, or pe. toliar to certain Writers and classes of Writers ; with Exam. tales, literally translated, selected from the Classical IVtiters. By J. DONNEGAN, Printed by J. F. Dove, St, John's-square; for Cowie, Low, and Co. Poultry ; Chalmers and Collins, Glasgow ; and Cum. rating, This Day was published, In Four Volumes, royal Bvo. with a Portrait, 31. 13s. Bd. hot pressed, • MR. CHITTY'S EIJITION of BLACK- 4 -v-IL STONE'S COMMENTARIES; with very .full rt./laical Notes, bringing down the law to the present lime, and with other Improvements, &C. Printed Poultry J. F. Dove, St. John's.sqUare ; for Co w ie , L ow, and Co., Poultry ; W. Walker, Strand ; Chalmers and Col. lins, ; Cumming, Dublin; and Ilkillikin, Dublin. WESTERN REPOSITORYNEW7I4O.IO, REGENT's. _ PARK. • , OTICE.—The Trustees or the CABINET MAKERS' SOCIF,TY most respectfully inform the Nobility, Gentry, and the Pnblic in general, that they have taken that. magnificent Gothic Building, late the REGENCY BAZAAR, situated in the NEW-ItOAD, between MAI boline New Church and Baktr-street, in addition to their °hi E , thblistmitent, LEADENHALL-STREET, which will he OPENED on the 47th instant, with an Extensive , Assortment vt an kinds ut Cabinet and Upholstery Goods. . The astonishing increase of trade, owing to the distin guished and liberal patronage they lumsee received from of the first. Families; its the liing.dom, has induced the ri us. tees.tv augment their Emtablislitnent, and they In to arsil themselves of this opportunity to room theft gratgul thanks for the decided preference they have experienced., and they do aver that their best exertions shall be exercised to merit a continuance of such pticx - ampled encouragement and public favour. A loro qbantitrof handsome Pattern, in eaper to he sold very cheap. N.8.--A regular Registry Book itept fie, Disposing of and Letting Houses, and no Cbarge made for Entry; and Plate Glass Warehouse. TITOMPSON and VEARON 7 HOLBORN HILL, htivinK nearly cOmpleted their extensive Vaults and Warehouses, up their own and the adjoining courts, atu now prepared to 4tibmit to the Public, a Stock of the finest Foreign Wines and Spirit', of nearly unequalled inagnitwle, and on terms of advantage to the purchAser, which cannot be eiceneded by any class of dealers or merchants in this kingdom. WINES PUR PIPE AND PER BUTT, IN DOCK. r t owrs (fit fur immediate bottling) . - - ,CX, A ) iltn, vintage 1842 (a line and also a fnrward (Wine) 3:i Ditto, viotage ttlio and 1891, of the chnicest qu,ility. from the highest elass,of shippers, and Which have long been in dock 44 -, - - SHERRI# 7 ,Q, amber colour, and of excellent quality 38 Ditto, ditto, very superior, mid also very old ' . 45 WINKs IN OMR (Zany INCLUD".) Per Pipe. Per Qr. Cost; Guineas. Uuinetti. PINIT VIE (fit for immediate bottling) 60 let SHERRIES (amber colour, and of excel lent quality) - - 63 IG Ditto, ditto, superior, and very old 70 I7i t.:AP,EMA.OEIRAS (first quality and old) ifi' 7 WINEiI, PER INPERIAL UALLONd Port Wine bitio ditt;co rich, and of super;or flavour , Slimy bitto, ditto, superior Ditto, ditto, older and of first character 'Volta Madeira Ditto, ditto, oldest nod choicest imported trines per Dozen, PORT, trctm the wood, genuine ditto, older 'Ditto, ditto, (irSt quality CRUSTEI) DIT'cO, 3 years in hotst, Ditto, ditto, four years in bottle - 'SHERRY (moderate) d. is 0 14 0 It C 15 0 IS 0 6 6 8 0 2 0 97 30 0 Sli U - 4 0 974. and 90 0 Ditto (excellent) - - 345. and 40 0 Ditto, the 'extremely pale and high flavoured 4i 0 West India Matteira.(ti year! , old) - . - :34 0 Ditto, ditto ditto, Ikblysniterior, (i 0 years old) 44 0 Uld Dry Liston (very choice) . - 36 0 ry L.._ Cape Madeira -15 s. and ta 0 Ditto, ditto, (choicest imported. and very old) 41 o FR NCI (VINES (bottles included). Pitil Claret, (;n1 ueth) - Ditto, ditto, (V ; 0 owth) Ditto, ditto, (highly superior, Lafitte and Chateau Mar gaux) - - - - 75 -0 The same Wines in Pints, etis., ses., and Ott. 'Champagne (sparkling) - - • Ditto, superior . - Ditto, the choicest which can be procured The same in Pints, 345., 40t., and 455. SPIRITS (duties off) per Imperial Gallon. English Gin - . $ 0 Ditto, Cordial ditto r r 9 4 Ditto, ditto, (fur mixing) - . to 8 Ditto, - .ditto,. (of II miswil strength) . 1-2 0 4 ... 3 ennine Jamaica Rum - - 10 a vitto, the superior ditto 7 , - - 12 0 Very choic e ditto, of higher strength and greater age 13 4 Old Cognac Brandy (first quality) • - 97 El WHisKgys, b ot h lrish and'gcntch, of several qualities, . Gallon ~,, ... . Is. cu. per up w ar ds . from Pl.'° ,-- his essi•titial to observe, that the Gallon now in use is materially larger than the funnel measure, being the Standard Imperil] Gallon. 48 0 tij 0 (i 8 70 0 84 0 CORN LAWS. Lord SUFFIELD presented - a petition from the Inhabitants of the parish of Leeds, Ashton-under-Line, praying for the Repeal of the Corn Laws. He regretted that his Majesty's Ministers had not yet grappled with the subject, and agreed that it was proper to discuss it with the greatest temper and moderation. When the measure should be brought forward, he should give no opposition to it, with a view not to particu lar interests, but to the public good. For he was one of those who thought it impossible in this country that one class should thrive at the expence of the others. The great object should he 'to prevent fluctuations of price.. The Earl of LAUDERDALE wished that Noble Lords who presented petitions on this subject should not make little ha: rangues, as they teniled to agitate the country. Let not the Noble Lord claim exclusively as his own the temper and disin- Leestedness with which he boasted he would come to the dis cession. He (the Earl of Lauderdale) and every other Peer in the House had never contemplated, and never would contem plate in discussing the important question of the Corn Laws, any thing except the general good of the community, to which he thought the present Corn Laws had been conducive, as they had contributed more than any other system to keep up an equality of prices. Lout SUf-FIELD said, that lie had made a short harangue, because he had been requested by the individuals, who intrusted him with their, petition, to express his opinion. The petition was then laid on the table. Earl GROSVENOR presented a petition from the Land Owners of Stockbridge, in the County of Southampton, ptay ing that there might be no alteration in the Corn Laws. The Noble Earl stated, in presenting the petition, that he was dis posed to'extend to Corn the principle of free trade, and thought there might be a tree importation of Corn under such guards and protections as would make it harmless.—The petition was laid on the.table. RETURNS. Mr. T TERNEY, from the Tax Office, presented an Account of the Salaries of the Receiver-General of the Taxes is 1825._ Laid on the table. Mr. BEST, from the Bank of England, presented a copy of the Correspondence between the Government and the Bank, relative to the purchase of Government Securities, since 1792 ; and a return of the amount of Bank Notes in circulation on the llith of February, 1826.--Laid on the table. ...eBANK CHARTER BILL. The Earl of LIVERPOOL moved the Order of the Day for going . pro furma into Committee on the' Bank Charter 11111. The Earl ofSitarrEsEttut accordingly took the Chair. The Amendments proposed on Monday were then added to the Bill. The Earl of LIVERPOOL said, the report of the Bill was to be received to-morrow; but, as it could not be printed in time, he should propose that the Order be discharged and fixed for Monday. On the motion of the Noble Earl,it was accordingly dischatg cd; fixed for Monday, and the Lords stimmoned. EXCHEQUER BILLS. The Earl of LAUDERDALE said, he had moved on a fir mer day for Returns of the Correspondence between the Pei. vernment and the Bank, on the subject ,of ,purchasing Ex. chequer Bills. The Returns had that day been laid on the table. The Correspondence was voluminous; and he had not been able to understand the whole. There was, however, one letter from the Noble Earl to the Bank which he wished ex plained. it was in these terms t—Under all the circumstances of the preient distresses , Of the city and country, it appears to Its that it would be an advantage to the public in the present state of credit, if the Bank was to purchaae 2,1/90,t1f10 of Ex. chequer Bills. If the Bank will do that, we agree to apply to Parliament to repay the same. Now it was of importance to know whether the Batik Was to purchase these Exchequer Bills until they were at par ? The Noble Earl bad said, on a former occasion, that he declined Making advances of Exchequer Bills, en was the case in • the distress of 1799. Be should give no opinion upon the policy of that determination. Whether, in the present state of the country it would or would not be an I advantage, he could not say. f, in the relief which the Go vernment had afforded, the Exchequer Bills were to be taken only at par, no real relief would be afforded. The Noble Earl (Liverpool) flattered himself that 2 millions of Exchequer Bills would be thrown into circulation, and give facilities to trade; • but under the arrangement made by his Majesty's tiovernment, little advantage could be derived. The Earl of LIVERPOOL said, the understanding of the Government was,.that in case the Bank purchased :3,090,000 of Exchequer Bills, to' re li ev e th e money market, an application would. he made to Parliament to repay that sum. The Bank were to purchase Exchequer Bills until they came to par, and . then to stop at discretion. The Earl of LAUI)ERPALE then said, if that was the tneaning of the letter the arrangement was not to serve the country, but raise the price of Exchequer Bills. The Earl of LIVERPOOL observed that he could not enter Into the question then ; hut he would say, if the Noble Lord knew all the circumstances under which the country was placed, his opinion would be diffiaent.—The House then adjourned. HOUSE OF COMMONS. The streets and avenues leading to the House were crowded by an immense numbet of silk weavers, who appeared to con duct themselves with the greatest propriety and order. Al I SCE LLA N EO US. Mr.'llu'rcitims, from the Bank of England, Presented an Account of the amount ofßank of England - notes now In circu lation under 5/.—Laid.on the table and ordetcd to be printed. Mr. TIERNEY, from the Stamp Office, presented papere.— Laid on the table. . Mr. PETER Moonr obtained leave to brins In Bills to enable the '4 1E is Fire insurance Company,' and 4 "rhe Welsh Iron and coal Mining Company," to sue and be sued in the names of their respective Chairmen or Secretaries. Mr. WHITBREAD obtained leave to bring in a Bill for the better management of the Depttbrd Charity. The several Private Bills on the table were forwarded in their respective stages. Mr. RIDLEY COtRURN presented a petition from Benjamin Robert Haydon, Historical Painter, praying for the encourage.. ment of the Fine Arts..--Laid on the table. IMPORTATION OF FOREIGN SILK. Sir E. HARVEY presented a petition from Braintree and flocking, in the County of Essex, against the importation of Foreign Silks; also a similar petition from Waltham Holy Cross. in the County of Essex. Similar petitions were also presented by Mr. L. Foster, from Leek, in the County of statford ; by Dir. Curteis, from R. Marson, Silk Throwster ; by Mr. Powell Buxton, from the Minister ? Churchwardens, and Inhabitants of Bethnal Green ; by Sir William Guise, from Chipping Norton; by Sir Thorn as Acland, from David Smith, Silk Throwster ; by Sir Thomas Lethbridge, from by Weavers of Spitalfields, signed by 20 1 000 persons; Benett, from the Silk Throwsters of Gi lien, in the county of Dorset; by Mr. Portman, from the Silk Throwaters of Sher. borne, in the county of Dorset; by Mr. Dugdale, from the Ribbon Weaver* of the county of Wiirwick ; by Mr. Calcraft, from the town of Kintrec, in the county of Somerset; by m r . Calthorpe, from Hendon, in the county of Wilts ; by Mr. Leigh, from Robert Gouger ' Silk Manufacturer, of Oakhani, in the county of Rutland; by Mr. John Williams, from Co ventry by Mr. Peter Moore, from the several Wards of the city of Coventry ; by Mr. Banker, from St. Olave's, in the county of Dorset; by Mr. Baring, from the Master Manufac turers of London. CORN LAWS. Lord STANLEY presented a Petition from the Manatee. titters of the town and neighbourhood of Blackburn, for an alteration of the Corn Laws; similar Petitions were also pre sented by Mr. Buitinta, from the city of Rochester; by Mr. He at e, front Kirby Kendall, in the county of Lancaster. SLAVERY IN THE COLONIES. Mr. CuIIWEN presented a Petition from the parishes of Brig ham and, Eggiestield, in the county of Cumberland, for the Abolition of NegroSlavety. Similar Petitions were also pre sented by the same Hon. Member from Dereharn, in the county of Cumberland ; by Mr. BzwwETT, from Lisbury, in the county of Wilts; by Mr. BIIUDENELL, front the town of CURRENCY. Colonel Jortstsow presented a petition from Wm. Cobbett, complaining of the conduct of two Bankers at Norwich, and praying for a summary process against Bankers refusing to pay their notes in the current coin of the realm. The Hon. Mem ber and Mr. IluMte severally spoke in favour of the object of the petition.—Laid on the table and ordered to be printed. CORPORATIONS IN IRELAND. Mr. Sramt RILE gave notice of his intention to move on Thursday next, for leave to bring in a Hill for the better regu lation of Cdrpurations In Ireland. REGISTRATION OP STAVES. Mr. Bnottoliiot gate notice'uf his intention to move on Wednesday next, for leave to bring in a Dill for the Registra tion of Slaves in the West Indies. PETITION OF THE MERCHANTS Or LONDON. Mr. THOMAS WILSON protested that he never felt deeper anxiety than at the present moment, when he was cost. pelted by his sense of duty to the country generally, and to his eonvituentu in particular, to express upon a most important subject an opinion diametrically opposed to that entertained by those whom he had so long been in the habit of supporting. He had a petition to present from the Merchants of London on a subject' of the deepest interest, not only to themmelVes, but to the whole community, and he claimed upon this occasien the indulgence of the House, on account of the high importance of the subject t and he claimed it with confidence, by striving to compress his observations within the narrowest possible compass. The Merchants had strongly urged their application to Govern ment for relief, but he believed that the matter had now reached a pdint which justified him in saying, that Ministers had tblly Made up their minds not to interfere. - They had, it seemed, at length found out that the Charter of the Bank did in fact allow that body to lend money upon goods. And the last answer which the applicants had received from theist had been 'a recom mendation to apply to the Bonk. The obvious answer to this recommendation was, that bn former uccastens, when the - Ex« chequer Bill Office was open to extend assistance to merchanti, the Commissioners, to whom the' management woof entrusted, were sworn to secrecy, and merchants could apply to them with the confidence that their credit would not be in , jured. The whole transaction might• indeed be coin. pleted without the world knowing any thing of the matter either at the time or for ever afterwards. It was the idea of Ministers that it was not more . discus. dituble to apply for a loan uponigoods, than to apply for the dis. count of a bill of Exchenw. No merchant would be found to c oincide in that feeling. The discount of bills was an everyday transaction, and one without which the ordinary proceedings of commerce could not be carried on.. Bat an apprehension would generally prevail amongst merchants that by applying for the usual assistance of a loan upon goods, they might bring a slur upon their credit. The other night, when he had. asked a question as to the detertnituttion of Ministers upon this subject, he had been surprised to be met by any ob jection to the persons who were seeking redress. They had been describesl u a set of rash and profligate speculators, who had, by theitdaring and reckless adventures, brought the pre , sent calamities upon the mercantile world ; and it had been said that therefore it was right to leave the evil to work its own cure. He had in his statement of the case of the merchants put it, perhaps imprudently, in the worst light ; belied for sake of argument, suffered it to be taken for granted that inordinate and indefensible speculations had led to the present state of things; and even then he contended that the suffbrers, soma ing them not to be altogether blameless, Were still deserving of the attention of the Government to this great commercial coun try. It was not for their own sake or ►merit that they . were en titled to attention who had imprudently embarked in specula tionss but as members of the great comnierchil community, which must be affected generally by 'their fall, they must have a claim to the consideration of a Government whose revenues depended so much upon the state of commerce. With respect to the Joint Stock Adventurers, he did not admit that they had much contributed to produeethe distress; and with respect to the speculations in commodities, what difference was there be tween the speculations which had got Consol, up to 914, and, by the bye, had essentially promoted the vi, ws of Government, and that which enhanced the prices of Cos innodities. Consols had now fallen to 75, and goods were depressed in perhaps a greater degree, but the speculation was its justifiable iti use case as in the other. Then with respect in the excess of trade, it was very easy, after the event, to blame men far haVing traded beyond their means or strength. Who could know, for instance, when the trade to South America was first opened, whether ten, twenty, or fifty cargoes would b e the p ro p er supply ? Who in London emild know how much of the neces sary supply was going to be furnished by Bristol, Liverpool, Glasgow, or other places I. lie could not agree to stigmatize the Associ a tions for Mining In South . America es pursuing any senseless or criminal . enterprise; on the contrary, he considered them as opening the way to a fair and legitimate employment of Capital, which would eventually be productive of advantage. Howeeer,now that capital was so must, wanted, its employment )11 those enterprises might be lamented. And with respect to the speculations on the stpot; he meant the dealings here and the premiums and fluctuations and gattibling they produced ; what ever might be thought of them in a moral point of view it was evident they cots Id not impair the nationsl capital since what was lost by one man was gained by another. Nor had so much ide struction of capital accrued from- the excess of our imports, as was generallymagincd- The prices of the raw material of our various manufactures had no doubt been enhanced and supported by speculation ; but during the whole time: that the advanced nation* at prices proportionately high. Ile was not prices were maintained, we were selling the 1/1111111 luctured goods to foreign nor for those who held a b s il k l i s n a g t re lt l in ie g r it flue bubble for en who wre in possession of great euantites of valuable goods, and who were nevertite. leas, from the peculiar situation of affairs, in a eoralition of the greatest anxiety and suffering. Since he had lut mentioned the subject, ()thee failures had taken Ones. lit might mention that of Gokischinitit and CompanY,ns affbriling a striking w a s. tration of the advantages he had rec om mended. The house hail recently stood in the which might arise fro", the „mum. rank of commercial credit. So confident had it been in its own resources, that one of the partners, only last yettri having been in Americ a , a nd induced by the lo w rate or interest ie tisis country, had invested Uniteil Stews. 60,00 01 . in the Steek of the This stock the house now held. They had established a home at Leeds, which received gootit of manufacturers fur futitre sale Upon commission, allowing them to draw for it proportion of the value ; in t his wa y they had accepted to the amount of 46,000/.' These bills, to the amount of 33,0t101. had become due,' and been paid. The w h o t e o f the goods Atilt remain e d i n t h e ir pus session,and, in the present situation of affairs, he greatlydoubted, deubte , it a :sale were forced, whether they would produce sittlicient to pay the remaining MAUI. still to becuule due.— utter land, surprise (vent g the i t i 4 et i t s g 4 t t l i t ei o , f s o a o y g i l n i r, no th l a t t o t b i t: gu ß a n id n edo e b e y s ntgb the .... . The distress was incvetteed by , every freeti foilure. When the anticipated failure of Goldschinittee twee Paris anti Arosterdism, the greatest sere:ellen was produced at rate of foreign exchanges, but by the whets and te pvi ee n ons at both those places, where the beet inforirica men expected that the merenntile interests.--(hear; beer,. hear I ).—V hy, if this as con= unicatect to great mischief would be produced it' the event should really was the principle upon which, the government & est e e epe take place, and a/cloves:A their hopes that it Might mit recoil the measure recommended by the Honourable en ent i eneue , upon ourselves. Tile reports teenectufg nee particular house of then he would see , that his objection to it was incalculably ias great eminence, which were afloat yesterday, had the effect of crease& —(Cheere.)—lf this was to be their inducement, he knocking down the funds two per cent., and all foreign securie would say, that all that Parliament had done t o restore a footed ties three or four per cent. The reasons Why Government re= and wholesome state of the cureeney of the country, but witieh t fused to interfere were the danger of the precedent, and their according to the Honourable Gentlemon'e argument, w ee et , objection to increase the mother of Exchequer Bills. It was unsound and unwholesome one, went for nothing; and they sufficiently evident, however, that three times tee great an hadnothing more to do titan to recur at once to a permanent amount of Exchequer Bills might lie afloat without locomen. system, of Bank iestriction,—(Libetting.)—.They.must ley the nience at a period ofreturning credit, Its at a moment of despoil. foundation of a certain return of those overwhelming evils from dency like the present. The request of the great bed, of Eng. which the country WWI now eraleainweleg to escatte, for site, a lien merchants was met by saying that some of them 'had been course would lead to the inevitable recurrence of the saute 'cede speculating, and as it was impoesible to discriminate, reliet' nntiee. lie begged perdoft of the louse for !toting spoken should be withheld from all. This he thought a hard sentence upon this subject with; perhaps. more wurtzite. then was necein. frown a Government the resources of which dePended as stitch spry, for he had certainly addreseett them with tests self.poes upon commerce. He should regret to leave the trench on which sendote than he always desired to prenerve.—i Hear, hear tt he had been so long accustomed to sit, but he feared he ,should '—if tie had neglected any point of nee Horn Geneletnan'e (Meer. henceforth be compelled to occupy neutral ground-for if he re- vetione which required het notice, Ise, begged to be excused alt moved quite to the Opposite side of the House, he might there be this amount, and that it might pot lie attributed to any want looked upon as little better than a spy in the camp. Much tied of sympathy with thoee dietrevses unner e ovnich the couutry been said of the duty of the Bank to regalateite issties with refer. suffered. '% ith dune who suffered most from Moss di,. encetodie pate of the Foreign Exchanges . , noon the suppostition teensee, no wan more deeply sympathize:l „mid for diem he that thestutedfExcliange indicated a favourable or unfavoortible was prepared to do vier) , thing. which it was in the power of hie balance of trade. New the actual balance of trade was not, in poor mind to suggest, or that could be suggested by tie mere his opinion, so cattily detected. In former titnee, indeed, when powerful minds of those who assioted and, surrounded him.—. our chief intercourse both of buying and selling was With the (Loud cheering.) Continent Of Europe, the state of the. Exchanges, might inch. Mr. T. WILSON explained. ~ . cats the balance of trade with twine degree of accuracy; but Mr. IL.IIII NG said, that the whole tenor of the Speech of now that we receive our supplies from the Continent, and ex. the Hight Honourable the Chancellotnef the Excite:per lef t port principally to South America and India , the same express the impression on his mind that the o(l'4 , er/intent were not andimmediate coincidence could not he supposed to exieta here thoroughly sensible of the depth, and extent .of the distresal could be no safer role for the Bank than to attend to the wants which prevailed from one end of the country to the outer and applications of the commercial world. If the Directors of and upon this question, which was simply whether they the Bank were to be bound at ever! Moment by the state of the would adopt one plan which had been repeatedly tolls wed with e xchanges, good bye to the commercial prosperity of the coon- success in this country, and which , ought rather to appeal to tr y, tine of the expressions they ' now meet frequently heard men's understandings than to their feelings, he would cautfod wa s, th a t of bringing things into a wholesome state. Rut if in the House ageing being led away Ise the warmth of the Right their effbets to brings things i nto what was called a wholesome Ilan. Gentleman, and by the confidence which,,eltetjustly had state, they effected the ruin of twenty Rankers, and spread still in his character. When lie heard the Government object to more widely the consternation and distress already so generally the measure proposed to them upon the groendnhat it was not prevalent, it Might then appear that it would ha v e been wiser their dut y to interfere whenever the mercantile interestbecame.to let well alone. 'file compliments Which :Ministers are iii the embarrassed, lie could not . believe that. they were otherwise h a bit o f p a ying to Country Bankers--to those of them who than ignorant of the existing state of the country. And when yet stand--mill not counteract the effect Of their measures, he heard the Right n o n. tt e en e m a n talk of t h e merchant. , which tended directly to discredit them in the opinion of the i being ruined by entering into the spcnulAtione which bad world, and which at the present moment of alarm was an un. been so prevalent, he begged to say that more of'' those speeu. neceseary aggravation of existing evils. 'Phis was not ft proper lations had originated with petty Attorneys in the Intel of LAW, period for speculative cheers. At this crisi s o f distress. the and the obscure schemers who had dud ieed them. Some had questions of permanent rolleeti the Llsuary Laws, the Corn undoubtedly originated in higher quarters ; but if Gentlemen Laws, and that ititportant tpiestum which was presently to be in St. James's-astreet much to s t 3 l 7 if f i t r iif s tt el t i l e te m i e l e ler u c to a r iag th o e ug l i t t oc t k o ter them. Ile did not mean, to say, that mer. n be ot at t l b y e an p T i g n e c o il u 4 s es ly o p f es i t .r p e o e n t e r t a l i . t — e, l E )e xc a l n t s n w g e e r , al)l6 discussions prevented them from chants bad not participated in these follies ; but be denied that ( n T i r i o m o e s i f l l ' i t i eti i:o s c se n o l r t i l l g l ia l i i t t la ll w t h e s e , d t i sv i rc h tt u ic s. g i s i i i l d t knowing on What footing they stood, could tend at the ore., the distress they now suflered could be in, any consideruble sent moment to a wholesome state of thinern *at indeed to degree attributed to their engagement in speculations. Lie tnake a lamentable confusion of wholesome and unwholesomet thought the Right Hon. Gentlennan had ellowli no good reason Ile must be indulged in two words inure. , One for himself; i why this measure, so often adopted before, and With the most he must take leane to say, thet in ttvging so strenuously successful results, should now be refused. It had been resorted this eubject. he was not advocating hie own cause; to hits, to by Mr. Pitt, one of the greatest men this canary ever ko'ciy per3onAlly, it was a mattet of indifference whether the relief in the civil and internal administration of a State, and in fe was, affinded or - not, but he cold not be indifferent to the variety of ether instances. If ever there was a ease peculiarly)Wishes and 'interests of the COnstitteente, nor to the (Heiress be fitted for the application of such, 4 meaeure, this, was the (111 P. tialY around him. His other word Wee . Oho of consolation to ;In Solna other cases Exchequer Bills had been advanced upon Ministers told the country. There .never was a period he be.' securities of the sante description, and only. to increase a no= lietied when the country' more abounded in Wealth. Confidence mime money, But now. there was no want ofeeul wealth, for was all' that was wanted. As .11.1inisters'persieted in refusing'to 'the country was enturated with valuable merchandise, and only adopt any measures fin' its restoration, he was compelled to pre.. wanted it for its circulation. The Wait of this had t 0..; tent ft petition from the Merchants of the City of London. tally destroyed the :lateral confidence between Matt 'and man; . , praeffng the II nese to take , the present of commercial affairs and the panic and terror were such, that every mionhad his credi. into its serious consideration. Ile would after the petition had tor at his door without being able to meet binettgagements.— • been rend, give notice of his hi - tendon to move on Tuesday next Plenty of .substantial wealth. existed; but there was no sign by, . for a Select Conimittee to inquire into the state of commercial ' which it could be made to circulate. Exchequer Bills were of i distress. ' ' ' ino real value, but as the representatives or signs of wealthe The ell ANCELLOR of' the EXCHEQUER rose and said, and if issued fur the purpose, they would enable this Wealth to. that if the !Mite Member expected any severe animadversions , circulate, which could tint circulate without them. He there.. from Into, either with reepect to the object he had in view, or , fore contended that the present was . the most, fit cote for the whit reepeento: ate Manner in which he' hail urged lt, be was Application of this description of relief that had ever °crone& greatly mistaken.' lie knew that it would have been intros. , He agreed with the Right Hon. Gentlethen, that if the Govern" eible for the lion. Gentleman, to address himself' to tills 1 merit made it a habit to interfere in cases of mercantile erne' subject without' manifesting strong feelings--neither could barrassment tbey would be Wrong. Bin .ehe queition ntiii . he de so--his own feelings Were similar to those of MS, whether the state of the countty was not gs)gh as to iitt. the Honourable Gentleman; similar feelings must be i niand an extraordinary interference. and to werraut the resort entertained by ' every num, and the feelings of every IMgtd a measure at' this nature. .He considered it to be better public man most be rendered more painful When, in addition , than ending upon the Bank to lend money upon tnerchun. to the task which he thonghthis duty impfned upon him of j clue,, because the application of it nierelient to that body acting in opposition to his feelings, he encountered the danger Would be injurious to his credit. ltesi,des that„ it was con. nflosing . , e valuable supporter—he should indeed be doing the ' aidered to he a bed principle of trait'. ;'loot it, was so consi: greatest injustice to his feelings 311(1 ro his situation if' he ware , tiered was abundantly proved by the Bank never. having been, on this occueion ve employ any severity of aniinadvereitm. They called upon to use tin. power which they were,itow discovered. had been referred to former ptecedents—there were, is knew, ito possess by their charter. If it were not for his reepeet fot two instances in which the kind of assistance now sought had the Right Honourable (ientlemfm, he titionld really say, that been afforded, and that under the auspices of one of the greatest the opposition to the .tneasttre recommezided in. the petition men that this country had ever seen, yet notwithstanding his arose, from it. wish to shift the trouble from the Treasury to ti:e roped, for so high an authority, he must be permitted to say, Bank, and that the motive to it watt rather tine;, of indolence that he enneidered it a matter of deep regret, that those excep: then of princnilas- When the issue of li millioneof Exchegner, tions to all general and wholesome principle had been permitted s Bide *at determined upon in 1793, only one.millioo oust a field to take place.. It was die first step which ought to have been was required to put an end to the attune, and regime etion. avoided. 'But ' if, because a thing had been done twice, dente teethe cuuntry. Of all the sums itdeaneed in the mule they were now to be ' called upon to do it a third manner, upon tlitrerent occasions, he was not aware that one time, where was it to stop? What was it. in tact, but i limiting had ever been 105t,,,-(llear,, hear l)—He thought the to offer a bonus to extravagant spectilation P--The Hon. Aleut. lion. Member for the, City of l e onnon had pursued it propes her told them of etiormone speculations in cotton and wool, and Intim, to use a military plimme—intahing up a Orreidable Pt,-' other articks, but if this was to be the ground of interference, sicken on the left flank of his Majesty's 11l ittistnes en , (e lettgit),--, what hope could be entertained of future prudence ? The next and that lie Ittentlischarged his dlity in ft &knitted .oust leuttanie crisis would present a still stronger ground for interference than manner. , . . , the present. An additional preside n t would he added to the h1r..1. S.MITH said, that the Right lion. Gentlemen had authorities; now relied on, and they might be qui t e sure that stated his refusal,. to accede to, the meaeute,, to act upon the the existing calantity would always be of 3 magnitude toes. ground of not establishing; a precedent upon whieh they might' ceetl every firmer affliction. As the ease of the house of Gold. be called upon to do the stone thing in the course of three years. schmidst tool been mentioned, he mum he permitted to say, Now, this, he contended, wee iniposeible, because we trete in 4 that the conduct of that Howie did appear to him, according to I state °ldling% which haul never happened before, and never could t h e ~e , „„,,,,t o f the non. Member himself, strikingly to in. setter again. We had just adopted needy, he thought, a measure itistrate the desperate spirit of speculation, to which the pre, for abolishing the circulation of one pound notes. Now, this, sent distress was, in his opinion, to be principally ascribed.— he contended, had produced much of the pro:cut ;Lwo', mut In the first place, they were told of their having locked up i which, front the same cause, could never be produced again. in 50,000/. Of their disposable fonds at the distance of some thou. the. Silk Tiede there was a total stagnation of business, so that sand miles on the other side of the Atlantic. Then that they not an ounce of silk could be sold. far any twice. One resPecte had founded a speculative establishment at beetle, to accu. able Gentlemen had come to hint, awl stated that he had goods ululate goodi, not with a view to immediate exportation as in in hid possession to the value of 40,0001,, and dolt he should be pursuance of orders alrendy received, but with a view to the unable to go on' if they did not atitance Win money upon titian chances and contingencies of futurity. When lee spoke of the Now, he, and. those with whom he was connected, were desirous . encesees of the speculative vpirit, he had no doubt he should be to.atiord such acctommodation . as far as their mean pen - nitwit.; accused of calumniating solid and respectable lionsee,which were but it would easily be seen duo no prederti man could tin so eo now involved In the 'vowed difficulties, although they had not any eoneitlereble extent under enlisting circurestameue It war themselvet embarked in any undue or extravagant speculations. said that tho 'bobbed the power by their charter to atlvattete It was indeed the great mischief of inordinate speculetion that money upon goods; :but they were tint obliged to do co, met. it involved 'in its ruinous' consequences many others besides there was no security dist they would. 1 What then was to len antie immediutelt enraged in it, and this rendered it more ins, vane of the country if ;Whiten the thwerninerit nor the Berle: iteratively the duty of Government to refrain from any et afforded Assistance ? Ile was firmly cenvinced thin without see likely to afford it encouragement: if Government were tri be lief the country could not eacape seine great crisis. Ile hue brought in upon evert , occasion the consequences meet be Otis- plored the Government to reflect that starving men had little chievous. If he could make up his mind that this would tie sense of law or order, and to think of the condition to whielt the last time that each an application would be preferred, it large classes of risentrust be reduced, if the present state of would obviate much of the difficulty he felt upon the subject, things continued much longer. le .held that the motives by but he was persunded that the success Of (hig WOtlid lead to the which a Government should lie actuated weft those of public neeestsity of similar applications in future. Ity the Charter of , utility, and the question now for their consideration was, wi n s.; the Bank, the course recornmentled by the Government was Cher more public good could be (lone by granting relief than actually pointed oat and provided for. Ile did not mean utility, by refusing it. Ile should cerminly not hate stated his senti. that it was desirible for the Bank to be engaged in traffic upon ments in such direct terms, if he had not been impressed with merchandise • but it wits evident that tutees of emergency hati a firm conviction of their truth. been Contertif:lXted, in the ft-aiming of the Charter, wherein the Mr. PEA RSE said, that if the Bank did not feel war. advance of meney upon goods might become neeessary. Why ranted in affording relief in the direct mannet which die One then, were the people to be converted into Ranked by new vernment recommended, it was not, because they were me. ',g legishitive ceactenente, for the pur pose of advancing such willing to d o every thing in their power which they considered m wizenoney, en there was pelts eels a provision by winch , con- likely to mitigate the enteral dietresa, even at the sacrifice of !deem with the law, the diffictilty might be met ?see Hear, their own immediate interests. It wile not because they were Id it wet now their mit t . gency, hut bemuse they know by experience that a better Met,. item, hear I) _ And why, t h en , were the Government to be not unwilling to strain every exertion to meet the existing ernet lertduendew b eee ns,e they would net undertake to sure had been tried with success, and which appeared to be , lend the public. money upon goods when the low had already preferable in every respect.—(Hear, hear I)--The distress was A uthorised the Batik ro no so ?--(Cheers )...-The law of Alere generelly felt all over England, and the relief meet I ehttin and rector hail been altered upon , the very ground of equally extensive to. be effectual. Now a CoMillission lien !Munition money to be . etelideanced. If the remetly desired by thmt of 1793 would he composed of individuals rimy) the 4hoy everyt o sblzieft of oblogoy, the mercantile i ntere ete were already put within their teach by differ en t di ett i cte whete it prevailed in the most bbroriunktt, the law h e cou ld n ot conceive upon what pretext the Govern- degrees, av well as those acquainted with the: interests of the in ent were to bv placed in a new Situation, to undertake Merchants of the Metropolis. Hut the Beek nenelel urTe . theniaking of new hove, and to !Adopt measures of tel they have experience in respect' to Lon dirt, Ana V?" 1,“ '''` n ? from the could neither see the necessity nor calculate the final remit il.— ix qualified to enter Mtn dealings of Untie:alum witn ' i•ieneen Laws ; but there watt one topic of his speech upon which lie (Ilear, hear, heart)--Ile should not go, as the lion. Member ' had dotie, into the various questions of the (teeny and Corn publicity of it legislative measure in the ',resters llo ,h a„..,f e 6 , 111 1:.t % ti n e : c c:7n t i e; t, A , i(nlle i r r iithiumege wotild'ne Shet ittliv ed b neivanceet tiy they vane, lt. ottnnu wee were to e se , „ ten i c o ultt not eefruin from Allying e few words. He had near(' with would not do so-touch 004 its )1 41 ( 04 ._ t i sn,"! the (rout'''', nit; ahsohtte disniay the argument and the proinisitione which it. elevernment, -, It shoaski be xetnent*rrl 4 I "' '''- hank tuld ' 11 " i nv olved, adopted by. the Hon. Gentleman upon thee subject of . ready afforded relief ••great extent to diet interest With which tea The , the currency and the exchanges. Hon. Cientletnun, to his it was more inuttedietely ctuirteeteu, and thin there was a puint